diff --git a/ads/aqua/common/utils.py b/ads/aqua/common/utils.py
index 369b62aae..de98dc45e 100644
--- a/ads/aqua/common/utils.py
+++ b/ads/aqua/common/utils.py
@@ -668,23 +668,26 @@ def get_model_by_reference_paths(model_file_description: dict):
     fine_tune_output_path = UNKNOWN
     models = model_file_description["models"]
 
-    for model in models:
-        namespace, bucket_name, prefix = (
-            model["namespace"],
-            model["bucketName"],
-            model["prefix"],
+    if not models:
+        raise AquaValueError(
+            f"Model path is not available in the model json artifact. "
+            f"Please check if the model created by reference has the correct artifact."
         )
-        bucket_uri = f"oci://{bucket_name}@{namespace}/{prefix}".rstrip("/")
-        if bucket_name == AQUA_SERVICE_MODELS_BUCKET:
-            base_model_path = bucket_uri
-        else:
-            fine_tune_output_path = bucket_uri
 
-    if not base_model_path:
-        raise AquaValueError(
-            f"Base Model should come from the bucket {AQUA_SERVICE_MODELS_BUCKET}. "
-            f"Other paths are not supported by Aqua."
+    if len(models) > 0:
+        # since the model_file_description json does not have a flag to identify the base model, we consider
+        # the first instance to be the base model.
+        base_model_artifact = models[0]
+        base_model_path = f"oci://{base_model_artifact['bucketName']}@{base_model_artifact['namespace']}/{base_model_artifact['prefix']}".rstrip(
+            "/"
         )
+    if len(models) > 1:
+        # second model is considered as fine-tuned model
+        ft_model_artifact = models[1]
+        fine_tune_output_path = f"oci://{ft_model_artifact['bucketName']}@{ft_model_artifact['namespace']}/{ft_model_artifact['prefix']}".rstrip(
+            "/"
+        )
+
     return base_model_path, fine_tune_output_path
 
 
diff --git a/ads/aqua/finetuning/finetuning.py b/ads/aqua/finetuning/finetuning.py
index 826d5df70..89eb07f6d 100644
--- a/ads/aqua/finetuning/finetuning.py
+++ b/ads/aqua/finetuning/finetuning.py
@@ -109,11 +109,13 @@ def create(
                 )
 
         source = self.get_source(create_fine_tuning_details.ft_source_id)
-        if source.compartment_id != ODSC_MODEL_COMPARTMENT_OCID:
-            raise AquaValueError(
-                f"Fine tuning is only supported for Aqua service models in {ODSC_MODEL_COMPARTMENT_OCID}. "
-                "Use a valid Aqua service model id instead."
-            )
+
+        # todo: revisit validation for fine tuned models
+        # if source.compartment_id != ODSC_MODEL_COMPARTMENT_OCID:
+        #     raise AquaValueError(
+        #         f"Fine tuning is only supported for Aqua service models in {ODSC_MODEL_COMPARTMENT_OCID}. "
+        #         "Use a valid Aqua service model id instead."
+        #     )
 
         target_compartment = (
             create_fine_tuning_details.compartment_id or COMPARTMENT_OCID
@@ -364,6 +366,7 @@ def create(
         source_freeform_tags.pop(Tags.LICENSE, None)
         source_freeform_tags.update({Tags.READY_TO_FINE_TUNE: "false"})
         source_freeform_tags.update({Tags.AQUA_TAG: UNKNOWN})
+        source_freeform_tags.pop(Tags.BASE_MODEL_CUSTOM, None)
 
         self.update_model(
             model_id=ft_model.id,
diff --git a/ads/aqua/model/model.py b/ads/aqua/model/model.py
index d92a3ab63..a2dfe5025 100644
--- a/ads/aqua/model/model.py
+++ b/ads/aqua/model/model.py
@@ -648,15 +648,19 @@ def _create_model_catalog_entry(
             copy_model_config(
                 artifact_path=artifact_path, os_path=os_path, auth=default_signer()
             )
-
         except:
-            # Add artifact from user bucket
-            metadata.add(
-                key=MODEL_BY_REFERENCE_OSS_PATH_KEY,
-                value=os_path,
-                description="artifact location",
-                category="Other",
+            logger.debug(
+                f"Proceeding with model registration without copying model config files at {os_path}. "
+                f"Default configuration will be used for deployment and fine-tuning."
             )
+        # Set artifact location to user bucket, and replace existing key if present.
+        metadata.add(
+            key=MODEL_BY_REFERENCE_OSS_PATH_KEY,
+            value=os_path,
+            description="artifact location",
+            category="Other",
+            replace=True,
+        )
 
         model = (
             model.with_custom_metadata_list(metadata)
diff --git a/docs/source/release_notes.rst b/docs/source/release_notes.rst
index 0bb91d4d3..be4c3b6a2 100644
--- a/docs/source/release_notes.rst
+++ b/docs/source/release_notes.rst
@@ -2,6 +2,14 @@
 Release Notes
 =============
 
+2.11.11
+------
+Release date: June 11, 2024
+
+* Fixed the bug that led to timeout when loading config files during jupyterlab load.
+* Fixed bugs and introduced enhancements following our recent release.
+
+
 2.11.10
 ------
 Release date: June 5, 2024
diff --git a/pyproject.toml b/pyproject.toml
index f999c9fac..809ef64be 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -21,7 +21,7 @@ build-backend = "flit_core.buildapi"
 
 # Required
 name = "oracle_ads" # the install (PyPI) name; name for local build in [tool.flit.module] section below
-version = "2.11.10"
+version = "2.11.11"
 
 # Optional
 description = "Oracle Accelerated Data Science SDK"